Polygon’s token POL jumped 16% over the weekend, briefly trading above $0.29 for the first time since March before easing back below $0.28, CoinDesk data shows.
The gains stood out against a flat CoinDesk 20 Index, with bitcoin near $111,000 and ether recording only minor advances.
The rally followed Polygon’s mention in a U.S. government pilot to release economic data on blockchain rails and the network’s new integration with USDT0, a cross-chain stablecoin protocol tied to Tether.
CoinDesk Research said POL’s breakout reflects bullish momentum, with support building between $0.277–$0.278, a range that could underpin further upside.
Version 2: Analytical / Market Commentary Style
January 9, 2025
Polygon’s native token POL led the crypto market over the weekend, surging 16% to cross the $0.29 mark for the first time since early March. The move has since cooled, with the token consolidating below $0.28, according to CoinDesk data.
The outperformance came as the broader CD20 Index held steady and major assets like bitcoin and ether posted muted gains.
Although no single driver was behind the rally, Polygon benefited from a series of positive headlines. The project was cited in a U.S. initiative to publish key economic indicators, such as GDP, on blockchain infrastructure. In addition, Polygon announced an integration with USDT0, a Tether-focused cross-chain stablecoin protocol that could strengthen its position in the stablecoin liquidity market.
From a technical perspective, CoinDesk Research models identified the breakout as evidence of strong bullish momentum. With buyers active in the $0.277–$0.278 range, analysts suggest POL could have a solid support base for another leg higher.
